Notes to the Financial Statements - Swissco Holdings Limited

Notes
to the Financial Statements
For the financial year ended 31 December 2009
24. Share capital
No. of
ordinary
shares
Issued share
capital
Amount
Share capital
$
Group and Company
2009
At 1 January and 31 December 197,208,717 27,380,166
2008
At 1 January 178,757,925 26,919,114
Bonus issue 17,875,792 –
Share issue - share options 575,000 348,281
Transfer from share option reserve upon exercise of share options – 112,771
At 31 December 197,208,717 27,380,166
All issued ordinary shares are fully paid.
On 9 April 2008, the Company issued 17,875,792 new ordinary shares on the basis of 1 bonus share
credited as fully paid at nil consideration for every 10 existing ordinary shares held by the shareholders of
the Company. The newly issued shares rank pari passu in all respects with the previously issued shares.
Share options
Share options were granted to employees, executive directors and non-executive directors who have
contributed to the growth and development of the Group under the Swissco Share Option Scheme
(“Scheme”), which became operative on 21 October 2004.
The exercise price of the granted options is equal to the average of the last dealt price of the Company’s
ordinary shares on the Mainboard of the Singapore Exchange Securities Trading Limited for the five
consecutive market days immediately preceding the date of grant.
In relation to an option granted to a person who is a controlling shareholder or an associate of a controlling
shareholder, the exercise price for the share option shall be equal to the average of the last dealt prices
for the Company’s share for the five consecutive market days immediately preceding the latest practicable
date prior to the date of any circular, letter or notice to the shareholders proposing to seek their approval
of the grant of such options to the controlling shareholders or their associate.
The period of the exercise of an option granted under the Scheme shall be the period commencing after
the first anniversary of the relevant date of grant of the option but before the fifth anniversary of the
relevant date of grant of the option for independent directors and the tenth anniversary of the relevant date
of grant of the option for executive directors and employees or date of expiry of the Scheme whichever is
earlier.
On 16 March 2009 and 30 April 2009, options to subscribe for 866,667 ordinary shares and 1,150,000
ordinary shares of the Company at an exercise price of S$0.29 and S$0.36 per ordinary share respectively
were granted pursuant to the Scheme (“2009 Options”). The 2009 Options are exercisable from 16 March
2010 and 30 April 2010.
Swissco International Limited Annual Report 2009
66